CBDCs and regulated cryptocurrencies could potentially complement each other in the future as the two types of digital currencies have their own benefits, INX deputy CEO said.
While crypto is often associated with financial freedom, the concept of CBDC is frequently seen as the exact opposite. But this doesn’t mean that there cannot be a balance between the two, according to Itai Avneri, chief operating officer and deputy CEO at the crypto trading platform INX.
Comparing CBDCs to regulated primary offerings, Avneri suggested that allowing or enabling crypto funds to participate in such offerings would be beneficial for both sides. That would specifically expose such financial instruments to a wider audience, while also giving crypto investors “comfort and confidence to trade in a regulated environment.”
The exec noted that he is not familiar with any current initiative that would allow one to buy a cryptocurrency like Bitcoin with a CBDC or other potential interactions between CBDCs and crypto. “When thinking about working with governments and central banks, I believe customers must be identified as it will serve their interest and will build the needed trust in the ecosystem."
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